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Dec 4, 2012 6:00am EST
a better economy and that reduces the debt. >> there is a headline predicting we will be producing more oil than saudi arabia beginning in 2020. this is something almost on imagined 10 years ago. -- unimagined 10 years ago. what is the role of the federal government? >> to do things that encouraged the results. to follow up on the fiscal cliff. you can solve this fiscal problem if you grow our role to position relative to everybody else's. a big problem is the percentage of government spending is more than its should be related to total gdp. if there is an easier for millet in the history of economics that -- formula ever in the history of america -- economics that more american energy equals more american jobs, i don't know what it is. it is all the jobs you have if you of a reliable supply of energy. the front page of the "the wall street journal" indicates a difficulty of connecting this cheap product we have in natural gas. we thought we would run out natural-gas as a country. connecting this cheap product with a more expensive market and getting it overseas. if we could become energy s
Dec 1, 2012 6:00am EST
who want to come here to help create jobs and help get our economy back on track. so it's very much, i think, in sync with our priority of helping americans get back to work, helping create more jobs for more americans. >> democrats have now said after your response towards the thee house's proposal that ball is now in your court, that the onus is on you to put forth a proposal. is the ball in the republicans' court now? >> well, we remain committed at all -- at all instances to engage in discussions that are serious. i think that the proposal that was delivered here by secretary geithner to the speaker and me yesterday was not a serious proposal. we remain in discussions. i know the speaker as well as i do not want to see us go over the fiscal cliff, but feel very strongly we've got to get serious here. we don't want to increase tax rates. we're not going to increase tax rates. and we want to do something about the spending problem. and remember, the good will, the piece that is, i think, determinive here, the speaker's put new revenues on the table just after the election and said we
Dec 3, 2012 8:00pm EST
and the demand for oil -- actually, and the demand for oil continues to decline based on fuel economy standards and other reasons. and yet, with this revolution we still continue to have a problem. and i think the report that we're releasing today, the national strategy for energy security and its subtitle really says it all -- harnessing american resources innovation. and the first point is, how do we leverage this abundance we have in the united states to our maximum benefit? at a time when washington is talking about our fiscal crisis i'd say that the relationship of our oil needs to this crisis itself are close. it might not solve our fiscal crisis but clearly it's a necessary ingredient. every recession in the history of the united states in moden times has been preceded by or happening concurrent with an oil price spike. if we don't have continued growth we can cut all we want and raise revenue all we want, but we'll never find a way to solve our fiscal troubles. and i think this report really looks at how do we leverage this great abundance, this great blessing in the united states, both
Nov 30, 2012 8:00pm EST
fewer not good for our businesses. it's not good for our economy. it's not good for employment. that's one path. congress does nothing, we don't deal with this looming tax hike on middle class families, and gets hit with this big tax hike and businesses suddenly see fewer customers, less demand, the economy, which we've been fighting for four years to get out of this, you know, incredible economic crisis that we have, it starts stalling again. so that's one path. the good news is there's a second option. right now congress can pass a law that would prevent a tax hike on the first $250,000 of everybody's income. everybody. so that means 98% of americans, 97% of small businesses wouldn't see their income taxes go up by a single dime, right? because 98% of americans make $250,000 a year or less. 97% of small businesses make $250,000 a year or less. so if you say income taxes don't go up, income above $250,000, the vast majority of americans, they don't see a tax hike. but here's the thing, even the top 2%, even folks who make more than $250,000, they still keep their tax cut on the firs
Nov 30, 2012 2:00pm EST
our economy. how to deal with them in a responsible way, get us passed this fiscal cliff, passed in august, only plan in washington, d.c., to prevent these debilitating tax increases from hitting across all of our family owned small businesses. finally, mr. speaker, h.r. 6365, it's the national security and job protection act. we passed that in september. that's the bill that looks specifically at these coming defense cuts. these cuts that secretary of defense leon panetta has called devastating in their impact. i know you do, mr. speaker, leon panetta, former chief of staff to president bill clinton, former chairman of the democratic-led budget committee here in the u.s. house of representatives, current secretary of defense calls these defense cuts devastating. this u.s. house has passed a proposal to prevent that second round of cuts from taking place. it's the only proposal anywhere in this town to have passed. we did in august. we took care of our business and we have yet to have partnership from either the white house or the senate. on that proposal. we took the sequester r
Nov 30, 2012 10:30pm EST
and is fair. that would be good for businesses, for our economy, for future generations, and i believe both parties can and will work together in the coming weeks to get that done. we know how that gets done. we're going to have to raise a little more revenue. we have to cut spending we don't need. and if we combine those two things, we can create a path where america's paying its bills while still being able to make investments in the things we need to grow like education and infrastructure. we know how to do that but in washington nothing's easy so there's going to be prolonged negotiations and all of us are going to have to get out of our comfort zones to make that happen. i'm willing to do that. i'm hopeful that enough members of congress in both parties are willing to do that, as well. we can solve these problems, but where the clock is really ticking right now is on middle class taxes. at the end of the year, middle class taxes currently in place are set to expire, middle class tax cuts surge in place are set to expire. there are two things that can happen. if conditioning does nothin
Dec 4, 2012 1:00am EST
cuts went into effect. they were always meant to be permanent. there were supposed to help the economy help growth going forward. we had a recession as part of the last decade. we have fairly strong growth from 2003 through 2007. we are still feeling the fallout from that today. raising tax rates on job creators and small businesses will cut back on job creation. we will see those who would have otherwise gone back to work failing to get a job going forward. guest: most small businesses are small. 97% of small businesses, their portions are tied to the middle class. it is important for their tax cuts to be extended. it is much less important for the high-income people to have theirs extended. if you're talking about the ceo who wants to play golf and also by a vote, maybe there could be more incentive to play golf, and work a little less. what economists find is the the work ethic for the high-income people is not very sensitive at all to the change in tax rates. that is why the cbo says that if the high end tax cuts go away, growth rates will only be affected by one-tenth of 1%, which
Search Results 0 to 6 of about 7